Interest on Your Balance

pirate · 02-25-11, 10:22 AM

Absolutely

the_mathman · 02-25-11, 10:53 AM

Betliner already offer an annual 7%
but as all the exchange (betfair excluded) i don't know how a log it alive....

Bongo · 02-25-11, 10:58 AM

I like that idea maybe players would leave more money in books instead of withdrawing often.

manutdlegend · 02-25-11, 11:01 AM

id leave my money in the books more oftern

noyb · 02-25-11, 11:07 AM

people saying they would care are kidding themselves unless they are pro's.
a 2% interest is reasonable considering current interest rates but for the average degenerate gambler adds up to virtually nothing in the end.

Fishhead · 02-25-11, 11:11 AM

Call a book and see what they can offer you...........you may be pleasantly surprised.

katstale · 02-25-11, 11:17 AM

Seems to me like a win-win situation for everybody and for those who really don't have large balances anyway.... well it's a great marketing tool I would think for the book. Another way to set yourself apart from the clamoring crowd.

thekid667 · 02-25-11, 11:40 AM

I would certainly appreciate an interest bearing account.

hhsilver · 02-25-11, 12:12 PM

I remember when WSEX did this. It was a nice touch, but it never affected how much money I kept there. However it made me consider them a classy outfit. So the lesson here is : be wary of a book offering more than the others.

Note: this was in the 'old' days of Pinny and neteller in the usa.... ahh, the memories.

relaaxx · 02-25-11, 12:23 PM

GUARDIAN use to give 10% a year. paid out at the end of the month. i kept over $50000 there. would deposit for bonuses offers and just leave the funds in there. then the USA stepped in. shut down neteller. i got scared. pulled out alll my money over a 2 month period. thier payments came fast. never a problem. i could have taken it out even faster. now i would want at least 5% to keep a large amount in a book that i trust. anything less than 5% would still make me play there but i would make withdrawls like i would normally and not keep extra funds there. definatly a great idea for any sportsbook to keep funds in accounts and slow down withdrawls. i get more than 2% right now on high interest checking accounts. why would i keep funds in a sportsbook for less, considering the extra risk.

HedgeHog · 02-25-11, 01:01 PM

2% interest tax free at an A+ Book would be enticing. Wonder if a rollover would be required on the interest?

ACoochy · 02-25-11, 01:05 PM

Originally posted by the_mathman

Betliner already offer an annual 7% but as all the exchange (betfair excluded) i don't know how a log it alive....

7.9% i believe p.a.

relaaxx · 02-25-11, 01:32 PM

any interest is better than nothing. and i would deposit in any A book that gave it. but it must be more than 2% to keep extra money there that could be in a bank, getting 3%, even with the taxes. not that banks are 100% safe. but here in the US, i have no legal avenue with any offshore book.

bracerman · 02-25-11, 01:47 PM

It would be enough to encourage me to leave my funds in a specific book

Dark Horse · 02-25-11, 02:03 PM

2% interest is on the low side, but the idea of interest is a good one. Books could come up with different interest ratios, depending on different factors.

gafl · 02-25-11, 02:29 PM

When you take into account how much it costs players and books to move money around, it certainly something the books should look into.

username474 · 02-25-11, 03:01 PM

Originally posted by relaaxx

GUARDIAN use to give 10% a year. paid out at the end of the month. i kept over $50000 there. would deposit for bonuses offers and just leave the funds in there. then the USA stepped in. shut down neteller. i got scared. pulled out alll my money over a 2 month period. thier payments came fast. never a problem. i could have taken it out even faster. now i would want at least 5% to keep a large amount in a book that i trust. anything less than 5% would still make me play there but i would make withdrawls like i would normally and not keep extra funds there. definatly a great idea for any sportsbook to keep funds in accounts and slow down withdrawls. i get more than 2% right now on high interest checking accounts. why would i keep funds in a sportsbook for less, considering the extra risk.

10% is better then a lot of hedgefund returns. 10% is also what I am getting on Guatemalan bonds right now. I would be almost certain there is somthing shady going on with such good returns.

Betphonix would still never see over a 10k balance from me. All they would have to do is raise their weekly withdrawl limits to over 4k and then they might. They will never come off as a financially secure book to me intill they address this.

Peeig · 02-25-11, 05:22 PM

Would you be able to earn this interest on your balance if it was at risk? Ie, if you bet a future (season win total for example) would the book credit the interest on that balance too?

katstale · 02-25-11, 06:00 PM

The way it was done at ESB was at the end of the month they just pulled your average daily balance--which is simple enough to do--and that amt was used to compute the interest and then it was just added to your balance.

stevex · 02-25-11, 06:22 PM

If the Interest was higher than the banks, why not? Think it's a great idea. Considering savings accounts are shit right now as far as Interest Rates go. The only savings accounts with decent rates these days are online ones (AMEX, Ally, etc.).

d2bets · 02-25-11, 09:15 PM

A great idea. Maybe they could do it for people who keep some minimum balance and don't withdraw excessively often. For example, those that keep a minimum $5k average balance monthly and don't take more than 2 withdrawals per month. Excessive withdrawals are a drain on books. And I don't mean amount, I mean frequency. Withdrawing $5k once a month is fine, but withdrawing $500 10 times per month is stupid.

big joe 1212 · 02-25-11, 09:18 PM

2 % would not be a changer for me, but if more like 5%, I'd always leave my unneeded funds in there!

wisky · 02-25-11, 10:00 PM

Would be a nice little perk.

leogirl · 02-26-11, 05:56 AM

Betliner 7.3% is amazing I am going to move some more money there now. I saw they are getting more poker action at the poker room.

katstale · 02-26-11, 09:43 AM

I agree with posters saying the higher interest rate is better, but I guess i was more interested in seeing how people viewed the idea in general. Of course, I imagine therre is positive correlation between the rate of return and how long you would let it set there. The closer a place got to 10% I would also be transferring funds to them to hold!! lolol

noyb · 02-26-11, 10:06 AM

any place offering anything near 10% (or 8% like betliner for that matter) screams scam

noyb · 02-26-11, 10:07 AM

Originally posted by leogirl

Betliner 7.3% is amazing I am going to move some more money there now. I saw they are getting more poker action at the poker room.

leogirl, please quit the shilling act. it's sooo obvious.

brettels · 02-26-11, 10:13 AM

betliner is certainly interesting! i just browsed there site and can not find any information on getting paid interest! if anyone can link to the page about it would be appreciated!

also, do they pay annualy or at maturity(monthly)?

the_mathman · 02-26-11, 11:00 AM

Originally posted by Dark Horse

2% interest is on the low side, but the idea of interest is a good one. Books could come up with different interest ratios, depending on different factors.

Here in Italy the % interest is 0.25%!
a 2% is already fantastic (in addition, with the risk of italian state default, my euros are better in a book that inside an italian bank!)

the_mathman · 02-26-11, 11:01 AM

Originally posted by brettels

betliner is certainly interesting! i just browsed there site and can not find any information on getting paid interest! if anyone can link to the page about it would be appreciated!

also, do they pay annualy or at maturity(monthly)?

they pay weekly!!!!

brettels · 02-26-11, 11:08 AM

if a link to this information is not aloud in a post can someone PM it to me?

brettels · 02-26-11, 11:15 AM

betliner wont load for me right now, the only site that isn't working! this thread must have everyone going there!

sportscash · 02-26-11, 12:23 PM

Sounds like a good idea.

wesleym · 02-26-11, 12:37 PM

sounds better than my current savings account at 1%